NASFAA Analysis & Coverage: This bill, the Supporting the Teaching profession through Revitalizing Investments in Valuable Educators (STRIVE) Act, would make several changes to teacher loan forgiveness and the TEACH Grant, among other provisions aimed at elementary and secondary education teachers. Regarding teacher loan forgiveness, the bill would create a new teacher loan forgiveness program. The program would provide incremental loan forgiveness to teachers (15% to certain teachers based on subject area per year for 5 years; 10% to remaining full-time teachers per year for 6 years; and 5% for part-time teachers per year for 6 years). Qualifying teachers would receive total forgiveness a year following the partial forgiveness period, as long as the teacher remains in a qualifying position. The bill would also increase the TEACH Grant annual amount to $12,000 (from $4,000) and would increase the aggregate limit accordingly (from $16,000 to $48,000 for undergraduate and post-baccalaureate students and from $8,000 to $16,000 for graduate students). The bill makes a few adjustments to eligibility and develops a process to forgive a certain percentage of a TEACH Grant loan conversion based on partial fulfillment of the service obligation.

NASFAA Analysis & Coverage: The bill would allow previously ineligible repayment plan payments to become eligible as a "qualifying payment" for the purpose of Public Service Loan Forgiveness (PSLF) if a borrower transfers to an eligible repayment plan within five years (first 60 payments) of entering full time employment. Currently ineligible repayment plans for PSLF include the graduated and extended plans.

NASFAA Analysis & Coverage: This bill would allow a parent whose dependent develops a total and permanent disability to qualify for student loan discharge of loans borrowed on behalf of the dependent for his or her education.

NASFAA Analysis & Coverage: This bill would allow federal student loan borrowers (Direct Loans, FFELP, and Perkins) enrolled in a "drug treatment program," which must be "certified or licensed by a State to provide drug treatment in the State," to defer their loans for the period of enrollment in the drug treatment program and 30 days following enrollment. Interest on Unsubsidized Stafford Loans would not accrue.

NASFAA Analysis & Coverage: This bill would provide loan forgiveness "credits" to federal student loan borrowers in exchange for voluntarily delaying receipt of social security benefits. Each credit equals $550 in loan cancellations. The number of credits a borrower elects to receive delays receipt of social security benefits by the equivalent number of months.

NASFAA Analysis & Coverage: This bill would add "qualified volunteer first responder," which may include "firefighters, law enforcement officers, emergency medical personnel, or other first responders to emergencies," to those eligible for Public Service Loan Forgiveness (PSLF).

NASFAA Analysis & Coverage: The bill seeks to extend PSLF eligibility to borrowers who have already invested up to 10 years toward making 120 on-time payments, but may have been unaware that the payment plan in which they enrolled was not sanctioned for forgiveness.

NASFAA Analysis & Coverage: This bill would consolidate the repayment plans into a single income-driven repayment (IDR) plan and a 10-year standard plan. The bill contains safeguards against negative amortization in the IDR plan by capping interest accrual at the 10-year standard plan.

NASFAA Analysis & Coverage: This bill would allow for refinancing of both Direct Loans and FFELP Loans. The bill would also lower the percentage add-on to the 10-year Treasury bill in the calculation of interest rates to one percent for undergraduate, graduate, and parent borrowers. In addition, the bill would eliminate origination fees.

NASFAA Analysis & Coverage: This bill would create a 3-year program to facilitate federal student loan refinancing into the private market, housed in the Department of the Treasury. Refinanced loans under their program would carry a federal government guarantee of 95%. The bill instructs the Departments of Treasury and Education to undertake a national awareness campaign on the temporary refinancing program with a disclose that loans refinanced through this program would not be eligible for income-driven repayment or loan forgiveness. The bill would also exempt employer payments of interest on the refinanced loans from the calculation of gross income for income tax purposes.

NASFAA Analysis & Coverage: This bill allows part-time adjunct faculty members, who are not employed on a full-time basis by any other employer, to qualify for the Public Service Loan Forgiveness (PSLF) program.

NASFAA Analysis & Coverage: This bill would require a borrower's prepayment amount on a Federal Family Education Loan, Federal Direct Loan, or Federal Perkins Loan to be applied first toward outstanding fees and then, unless the borrower requests otherwise, in the following order: (1) toward the principal due on the loan with the highest interest rate, if multiple loans have different interest rates; and (2) toward the principal due on the loan with the highest balance, if multiple loans have the same interest rate. The bill also requires private lenders to apply prepayments in the same way.

NASFAA Analysis & Coverage: This bill cancels the Department of Education's 2016 loan servicing solicitations and amendments. The bill prohibits the Department from issuing any future servicing solicitations unless the proposal provides for the participation of multiple servicers that contract directly with the Department and allocates borrower accounts to servicers based on performance.

NASFAA Analysis & Coverage: The bill provides bankruptcy protections for federal and private student loans, reestablishes a statute of limitations on student loan debt collection, and prohibits the garnishment of wages, tax refunds, and Social Security benefits. The bill expands PSLF by allowing borrowers in public service jobs the ability to have half of their loan balance forgiven in five years. The bill allows Parent PLUS loans to be repaid through income-based repayment and forgiven through Public Service Loan Forgiveness (PSLF). In addition, the bill prohibits loan default from preventing a student from accessing transcripts or other certifications or from being used against a borrower in a Federal or State proceeding involving the individual's professional or vocation license. The bill also excludes student loan discharge or forgiveness from the calculation of gross income for income tax purposes.

NASFAA Analysis & Coverage: This bill would eliminate undergraduate eligibility for Federal Direct Stafford Loans and instead create the "Federal Interest Free Education Loan," where borrowers would repay their loan through mandated automatic deductions from pre-tax income. The loan would have an aggregate limit of $90,000 over four years only. A borrower may consolidate any Federal Direct Loan into the new loan program. Borrowers would repay this loan based on a percentage of their income over the course of 30 years, starting at 4% for those borrowers earning less than $100,000 and increasing progressively with a cap at 10% for borrowers making over $150,000. No payment would be due if a borrower's income is below roughly 337% of the federal poverty line (currently about $40,000 for an individual). In addition, no interest accrues on the loan unless "a borrower is not earning taxable income due to professional negligence, professional incompetence, or malicious action on the part of the borrower." All remaining loan balance would be canceled after 300 monthly payments (25 years), and the balance canceled would be subject to income tax.

NASFAA Analysis & Coverage: This bill, the Grace Period Alleviation Act, would allow borrowers of Direct Subsidized Loans and Direct Unsubsidized Loans the option to extend the grace period for an additional six months for a total of twelve months. A borrower would be informed of this option by the Department of Education at least 45 days prior to the start of the borrower's repayment period. Subsidized loans would not accrue interest during the grace period extension, but unsubsidized loans would continue to accrue interest during this period. In addition, the bill eliminates the temporary provision that led Direct Subsidized Loans disbursed between July 1, 2012, and July 1, 2014, to accrue interest during the grace period.

NASFAA Analysis & Coverage: This bill, the Streamlining Income-driven, Manageable Payments on Loans for Education Act, would auto-enroll delinquent borrowers in an income-driven repayment (IDR) plan and automatically recertify income and family size on an annual basis for borrowers already enrolled in IDR plans.

NASFAA Analysis & Coverage: This bill makes a number of federal lending changes. The bill would eliminate origination fees, create a new loan refinancing program for loans made under the Direct Loan Program and the FFEL Program, and lower interest rates. The refinanced loan would have an administrative fee of not more than .5% and a fixed interest rate of the most recent 10-year Treasury note plus .5%. For loans issued after July 1, 2018, the interest rate for undergraduates would be equal to the 10-year Treasury note plus .5% or 8.25%. For Federal Direct Unsubsidized Stafford Loans for graduate and professional students, the interest rate would be equal to the June 10-year Treasury note plus .5% or 9.5%. For PLUS loans, the interest rate would be equal to the June 10-year Treasury note plus .5% or 10.5%. In addition, the bill includes a provision to exempt loan forgiveness and discharge from gross income for income tax purposes.

NASFAA Analysis & Coverage: This bill makes a number of federal lending changes. The bill would eliminate origination fees, create a new loan refinancing program for loans made under the Direct Loan Program and the FFEL Program, and lower interest rates. For new loans issued after July 1, 2018, the interest rate for undergraduates would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve discount rate or 4%. For Federal Direct Unsubsidized Stafford Loans for graduate and professional students, the interest rate would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve discount rate or 5%. For PLUS loans, the interest rate would be equal to the lesser of the 10-year Treasury note plus the Federal Reserve Discount rate or 6%. The bill creates a refinancing program that allows both FFEL and DL borrowers to refinance at current interest rates. For consolidated loans, the interest rate would be equal to a weighted average of the current interest rate for each proportion of the consolidated loan.

NASFAA Analysis & Coverage: This piece of legislation, the Investing in Student Achievement (ISA) Act, works to establish the legal and tax framework for income-share agreements (ISAs). The bill establishes standard terms and conditions required for a repayment agreement between a private entity and a student to be considered an "income-share agreement" for tax purposes. The bill would exempt proceeds received by a student as part of the income-share agreement to cover education costs from income and asset for need analysis.

NASFAA Analysis & Coverage: This bill authorizes the creation of a two-year pilot program led by the Secretary of Housing and Urban Development (HUD) and the Director of the Federal Housing Finance Agency (FHFA) to incentivize borrowers with federal student loan debt to buy certain homes. The pilot program allows HUD and FHFA to offer any assistance to eligible borrowers jointly deemed appropriate, such as more flexible underwriting or a discount on the appraised value of the home. Eligible properties include those owned by HUD, Fannie Mae, and Freddie Mac (as a result of foreclosure). Eligible applicants include those borrowers with an outstanding balance of principal or interest on FFEL, Direct Loans, or Perkins Loans that are in repayment or in a grace period, but not in litigation, default, or wage garnishment. Eligible applicants may not have owned a home during the past 3 years.

NASFAA Analysis & Coverage: This piece of legislation would remove the "all or nothing" component of Public Service Loan Forgiveness (PSLF) and allow borrowers employed in public service jobs to receive a percentage of forgiveness if employed in a public service job for less than 10 years. The percentage of the loan that is cancelled varies: for 2-5 years, 15%; for 6-9 years, 20%; and for 10 years, 30%.

NASFAA Analysis & Coverage: This bill would expand eligibility for public service loan forgiveness to current and former long-time employees at all 16 privately operated Department of Energy National Laboratories. Eligibility would be retroactive to October 1, 2007.

NASFAA Analysis & Coverage: This bill would expand eligibility for the Public Service Loan Forgiveness (PSLF) program for those employed in the arts and humanities. Specifically, the bill would expand PSLF eligibility to include certain cultural workers, museum professionals, artistic professionals, art and humanities professors, and music and art educators.

NASFAA Analysis & Coverage: The Relief and Investment for Student Entrepreneurs (RISE) Act offers a three-year interest-free deferment period for federal student loans to "qualified entrepreneurs." The bill also allows entrepreneurs who start businesses in Historically Underutilized Business Zones (HUBZones) to receive up to $17,500 in Direct Loan forgiveness.

NASFAA Analysis & Coverage: This bill would provide a loan repayment program for teachers who are employed in high-need schools. The bill would eliminate the TEACH Grant Program and sunset existing teacher loan forgiveness programs for both Perkins Loan and Direct Loan borrowers. In their place, this piece of legislation would create a new loan repayment program for teachers in low-income schools, as defined in the bill. The program would provide direct loan payments of $250 a month for the first and second year of teaching, $300 a month for the third year of teaching, $350 a month for the fourth year of teaching, and $400 a month for the fifth and sixth year of teaching with a $23,400 aggregate maximum.

NASFAA Analysis & Coverage: This bill would establish scholarships, loan forgiveness plans, and training programs for educators who commit to teaching in Native American or Bureau of Indian Education (BIE) schools. The bill would create three scholarship programs, including two for Indian students seeking undergraduate or graduate degrees, and one for students seeking undergraduate degrees, for students who commit to teaching in a BIE school for at least three years. To receive loan forgiveness, students must teach for at least five consecutive years. The bill also provides grants for institutions of higher education looking to develop training programs for Native American immersion and language teachers.

NASFAA Analysis & Coverage: This bill would create a new federal student loan refinancing program. Under the bill, borrwers can refinance loans from the FFEL, Direct Loan, and Perkins Loan programs at a variable interest rate (the daily average of 1-month London Inter Bank Offered Rate (LIBOR) for United States dollars in effect for each of the days in the prior calendar quarter as compiled and released by the British Bankers Association plus 3.5%). To pay for the cost of the refinancing program, the bill caps Public Service Loan Forgiveness (PSLF) for new borrowers as of 7/1/17 at $57,500 and restores the original terms of the income-based repayment (IBR) plan for graduate and professional student borrowers only for new borrowers as of 7/1/17 from 10% of discrentionary income to 15% and a 25-year repayment period from 20 years.

NASFAA Analysis & Coverage: This measure would automatically refinance interest rates on loans made under the Direct Loan Program and the FFEL Program to four percent. The newly consolidated loan will have 0.4% origination fee on the principal balance.

NASFAA Analysis & Coverage: This bill, the Federal Adjustment in Reporting (FAIR) Student Credit Act, would allow private loan lenders the ability to offer a loan rehabilitation program with the result of removing a private student loan default from a borrower's credit history if successfully completed. This private loan rehabilitation program would only be available one time per loan if a lender chooses to implement such a program.

NASFAA Analysis & Coverage: This bill would allow parent PLUS loans to be discharged in the case of a total and permanent disability (TPD) of the student on whose behalf the parent has received the loan.

NASFAA Analysis & Coverage: This measure would add a pediatric subspecialty residency or fellowship training program to the list of eligible health professions for eligibility for the National Health Service Corps. and corresponding loan repayment assistance.

NASFAA Analysis & Coverage: This bill would establish a "Frontline Providers Loan Repayment Program" within the Department of Health and Human Services (HHS) under the Public Health Service Act. The new loan repayment program would allow for repayment assistance for health professionals who commit to two years of service in "frontline scarcity areas." Amount of loan repayment assistance to be determined by the Secretary of Health and Human Services.

NASFAA Analysis & Coverage: This bill would provide loan forgiveness "credits" to federal student loan borrowers in exchange for voluntarily delaying receipt of social security benefits. Each credit equals $550 in loan cancellations. The number of credits a borrower elects to receive delays receipt of social security benefits by the equivalent number of months.

NASFAA Analysis & Coverage: This bill aims to encourage entrepreneurship by providing the option for non-interest accruing deferment to qualifying small business start-up founders and employees for up to three years. In addition, if the start-up is located in an "economically distressed" area, founders and employees are eligible for loan cancellation up to $20,000.

NASFAA Analysis & Coverage: This comprehensive piece of legislation would create a grant program to states to eliminate tuition at public 4-year colleges and universities and tribal colleges for students from any family making $125,000 or less. The bill would cut interest rates and impose an interest rate cap of 5% for undergraduate borrowers and 8.25% for graduate and parent borrowers, while also allowing borrowers to refinance loans at the current interest rates. Any excess revenue in the Direct Loan Program would be redirected into to the Pell Grant Program. The bill would also increase Federal Work Study (FWS) authorized funding levels and revise the FWS allocation formula by eliminating the "base guarantee" component in the current formula. In addition, TRIO and GEAR UP would see increases to authorized funding levels.

NASFAA Analysis & Coverage: The bill would replace current loans, subsidies, deferments, forbearances, and repayment options with a single loan called the Income Dependent Education Assistance (IDEA) Loan, repaid through universal income-driven repayment and employer withholding.

NASFAA Analysis & Coverage: The Help Americans Never Get Unwanted Phone Calls (HANG UP) Act eliminates a provision allowing the federal government and its contractors to use predictive dialer technology to collect a debt owed to or guaranteed by the United States, which includes federal student loans.

NASFAA Analysis & Coverage: This bill, the Native Educator Support and Training (NEST) Act, would establish scholarships, loan forgiveness plans, and training programs for educators who commit to teaching in Native American or Bureau of Indian Education (BIE) schools. The bill would create three scholarship programs, including two for Indian students seeking undergraduate or graduate degrees, and one for students seeking undergraduate degrees, for students who commit to teaching in a BIE school for at least three years. The bill expands teacher loan forgiveness for educators who work in a native school for a least 5 years (up to $17,500). The bill also provides grants for institutions of higher education looking to develop training programs for Native American immersion and language teachers.

NASFAA Analysis & Coverage: In addition to providing grants to students who commit to pursue rural education as a career path, this bill, the Rural Educator Support and Training (REST) Act, would expand teacher loan forgiveness for educators who work in a rural school for a least 5 years (up to $17,500).

NASFAA Analysis & Coverage: This bill would create the “10/10 Loan Repayment Plan” that allows borrowers to pay 10 percent of their annual discretionary income and forgives the remaining loan balance after ten years of payment. The bill caps new direct loan interest rates at 3.4 percent and significantly modifies Public Service Loan Forgiveness (PSLF) by reducing the required number of qualifying payments from 120 to 60 and including physicians in "Medically Underserved Areas." The bill also allows certain borrowers with private education loans to consolidate them into a direct consolidation loan. The bill excludes loan forgiveness under income-driven repayment plans from gross income for the purposes of income tax.

NASFAA Analysis & Coverage: This bill would qualify full-time employees or managers of a "qualified farm or ranch" for forgiveness benefits under Public Service Loan Forgiveness (PSLF). A "qualified farm or ranch" is defined as a farm or ranch whose gross revenue is equal to or greater than $35,000, indexed annually to inflation.

NASFAA Analysis & Coverage: This bill, the American Science Principal and Interest Reduction and Employment Act, would forgive 25% of the loan principal of any Federal Direct Loan for students who graduate with an undergraduate STEM (science, technology, engineering, math) degree or certificate. In addition, parents who borrow on behalf of a dependent student who graduates with an undergraduate STEM degree or certificate are eligible for 25% principal forgiveness on their PLUS loan(s).

NASFAA Analysis & Coverage: This bill would allow survivors of terrorist attacks, as determined by the federal agency investigating the attack, to defer loan payments for one year, not counting against the three-year deferment allowance. The bill applies to Direct Loans, Perkins Loans, and FFELP Loans.

NASFAA Analysis & Coverage: This measure would allow teachers to qualify for both teacher loan forgiveness and public service loan forgiveness. It increases the teacher loan forgiveness amount from $5,000 to $17,500 and shortens the employment requirement for teacher loan forgiveness from five years to three.